Welcome to Extreme Investor Network, where we provide you with unique and valuable insights into the world of finance and trading. Today, we’re taking a closer look at the GBP/USD and EUR/USD currency pairs.
GBP/USD Price Chart Analysis:
The GBP/USD pair is currently holding above the 50-day EMA at $1.31579, which provides solid near-term support. Additionally, the 200-day EMA at $1.30578 reinforces a broader bullish trend in the market. Keep an eye on a bullish engulfing pattern on the 4-hour chart, as it hints at continued buying interest. However, a break below $1.32300 could trigger sharper selling pressure.
EUR/USD Update:
EUR/USD remains stable after Germany’s final CPI release, maintaining a 2.2% rate. Traders are now focusing on German Buba President Nagel’s upcoming speech for further insights into the ECB’s monetary policy stance. With a weaker Current Account figure of €39.6B, the pair may experience increased volatility in the near future.
EUR/USD Technical Forecast:
The EUR/USD pair is currently trading at $1.11459, showing a slight bullish momentum. The pivot point is at $1.11313, with immediate resistance levels at $1.11754, $1.12007, and $1.12288. On the downside, support levels are at $1.10933, $1.10683, and $1.10444.
Stay tuned to Extreme Investor Network for more in-depth analysis and expert insights into the stock market, trading trends, and much more. Make sure to bookmark our site for the latest updates and unique content that you won’t find anywhere else. Let us help you navigate the world of finance with confidence and knowledge.